The the spike in refi activity has “meaningfully” increased the pricing power for originators, said KBW. The research firm said gain-on-sale margins from secondary market loan sales should be exceptionally strong.
The Trump administration has not only proposed extending the existing g-fee surcharge, but recommends doubling it. Not to be outdone, both Democratic presidential candidates, former Vice-President Joe Biden and Sen. Bernie Sanders, D-VT, also support raising g-fees.
Sterling said that in connection with the review, a significant number of employees have either been terminated or resigned, including a senior vice president...
Mortgage loan officers should take one last look at their loved ones because if the 30-year fixed-rate vanilla mortgage falls below 3.0% they’ll be living at the office as new customers pour through the door (or Internet) like a zombie apocalypse…
While traditional non-agency jumbo lending lagged the overall market, the conforming-jumbo business was cracking. Fannie Mae, Freddie Mac and Ginnie Mae securitized $51.15 billion of single-family loans above last year’s $484,350 limit for one-unit properties.
But there’s also a dark side to the rate plunge: The servicing side of the mortgage business is looking at mark-to-market bloodbaths that could be the norm if rates don’t snap back by the end of the current quarter.
According to Anthony Hsieh, founder and CEO of top-10 lender loanDepot, the mortgage industry might want to ponder creating a “reservation” system for incoming applicants.
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